China’s real estate problems are three: the massive size of the sector, its excessive leverage, and the amount of developer debt in the hands of average households and retail investors.
Not even the US’s ostensible allies can escape. NATO members Hungary and Poland were called "totalitarian regimes" by Biden because the two countries have run afoul of the West's ruling elite.
"It is not true that the masses are always right … ‘Belief in the common man’ is no better founded than was belief in the supernatural gifts of kings, priests, and noblemen.”
The more an economy is centrally planned, the more chaotic are the relationships within it. The freer people are to make their arrangements in the market, the more coordinated things become.
Price controls, or antigouging laws, discourage innovation and sometimes can lead to supplies of goods and services being directed to other markets. In other words, price controls lead to shortages.
The world of the 2 percent target is something truly new and worse than what came before. It’s not the same old monetary policy with slightly higher inflation targets.
If business owners could increase their prices without a loss in sales, they would have already done so. Yet many conservatives mistakenly claim tax increases are just "passed on" to consumers.
